For some reason I couldn't find this, but I did so here. This is posted over at MyDroidWorld by p3droid.
New and improved Cyanogen Rom (Droid Only) lockscreen. Now you have options. With this file you can not only have the rotary lockscreen but you can swap back to the normal lockscreen or go back and forth as much as you like.
Step 1: Download file to your SDCARD CM_rotarylock_5.0.7.zip
Step 2: Restart Phone in recovery mode
Step 3: Install Zip
Step 4: Restart phone
Step 5: Open Terminal Application
Step 6: Type SU
Step 7; Select the lock screen by typing one of the following codes
rlock = rotary lockscreen
tlock = tabbed lockscreen
This may not work on all Cyanogenmod Roms (there is a known problem with CM roms that have been themed).